Official sources told ANI that the Income Tax Department conducted a survey at the offices of “Truecaller” in Mumbai and Gurugram on Thursday, allegedly in connection with alleged transfer pricing violations.
The survey aimed to collect information and examine documents related to potential tax evasion, with a particular focus on transfer pricing practices.
Truecaller, the Swedish company behind the popular caller identification app, has confirmed the action by the Income Tax Department.
A company spokesperson said: “On Thursday, November 7, 2024, Indian tax officials visited Truecaller’s office in India. Truecaller is currently cooperating fully with the authorities. This visit was unannounced and we are awaiting official information from the tax department. Such visits are not uncommon and Truecaller will continue to assist authorities when requested.
Truecaller emphasizes that it operates transparently as a publicly listed company, claiming that it is not subject to any tax investigations in India other than regular audits. The company warrants that it has continuously paid all taxes due in India and other regions where it operates, and that its financial statements have received a negative audit opinion. qualified.
Regarding transfer pricing, Truecaller clarified that its policy on internal transactions complies with internationally accepted market principles, ensuring that it pays appropriate taxes in both Sweden and India. This policy is reviewed regularly to ensure compliance with the tax laws of both countries.
